* Brewing Delaware & Hudson Clarificati

UPDATE

June 06, 1990|Compiled from news services

Coors Brewing Co. has forged a deal with Stroh Brewery Co. to purchase Stroh's Memphis, Tenn., facility -- an acquisition marking the first time Coors will make beer outside of Golden, Co., officials said yesterday. The companies said they hoped to complete the transaction by July 3, but Stroh said it would operate the 500-employee brewery until Sept. 1. The brewery sale price was not disclosed. Coors Brewing Co. Stroh spokeswoman Lacey Logan said the company has no plans to sell its Fogelsville facility. But production at the local plant will likely rise as a result of the sale of the Memphis facility, she said. Logan said it is too early to say how much production will increase and whether new jobs are likely.

Federal Railroad Administrator Gilbert E. Carmichael announced his support yesterday for a $25 million bid by Canadian Pacific Ltd. to buy the ailing Delaware & Hudson Railway. "Canadian Pacific Railroad and the D&H is more than just saving 1,600 miles of track. It creates another major eastern U.S.A., North American railroad for the Western railroads to do business with," Carmichael said at a news conference in the office of Sen. Alfonse D'Amato, R-N.Y. D'Amato, who also endorsed Canadian Pacific's bid, said the Justice Department would file a supporting brief at a D&H hearing tomorrow in U.S. Bankruptcy Court in Wilmington, Del. The Federal Railroad Administrator is D&H's largest creditor, with more than $90 million in secured claims. Last month, the D&H's bankruptcy trustee accepted Canadian Pacific's bid, which also promises about $5 million for the trustee if Canadian Pacific can sell rights to run fiber optic communications cables along the D&H right-of-way.

CLARIFICATION The stock offering for Ambassador Bank of the Commonwealth will be available this month through a prospectus from the bank's interim business office at Commerce Plaza III, Suite 115, 5050 Tilghman St., Allentown, 18104. The prospectus will soon be filed with the Pennsylvania Department of Banking.